Instagram, the popular photo and video sharing social media platform, is taking the world by storm. In addition to continuously gaining users at an incredible rate, the platform's frequent updates and improvements are changing the social and mobile landscape.

Here's what you missed.

New Features & Customizability

Towards the end of 2014, Instagram introduced (for the first time since 2012) five new photo filters, as well as the ability to personalize the filter appearance in your account. The company designed these updates based on the ever-improving photography capabilities of smartphones, as well as the "tremendous creativity within the community."

Loop Videos

In February 2015, Instagram announced a new feature for all users: continuously looping videos. This new update puts Instagram back on the same playing ground (functionality-wise) as Vine, one of its largest competitors. (Vine has offered this feature since its premiere.) Additionally, Instagram's advertisers are now able to get more visibility for their sponsored video content.

Carousel Ads

Earlier this month Instagram introduced carousel ads. With this new feature, advertisers will now be able to upload photo sets which will include a call-to-action and a link to a designated website. These carousel ads will be an e-commerce game-changer.

Instagram's recent additions have left the social media world speculating about upcoming updates. At Likeable Media, we're hoping to cross some things off our social media wish list. We're especially anticipating a free Instagram scheduling tool!

What is your favorite recent Instagram update? What do you wish the platform would roll out in the near future? Tell me in the comments below or on Twitter: @gigglebug390